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The Latest Breaking News from the Congressional Budget Office

Biden's Latest Student Loan Scheme Has a Bigger Price Tag Than Originally Projected

The administration’s SAVE plan for student loan forgiveness is estimated to cost $475 billion.

Reason

Editorial: Budget agency pours ice water on Biden parade

How fitting that the Congressional Budget Office released its long-term fiscal projections Wednesday, the same day that President Joe Biden began his economic rehabilitation tour.

Tribune News Service

US public debt is projected to reach 181% of American economic activity in 30 years

The Congressional Budget Office is giving the world a concerning look at the U.S. government’s ledgers

The Independent UK

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Budget loophole for Pentagon slush fund

Despite debt ceiling compromise, the Pentagon will continue to prove exempt from ceilings of any sort

Salon

Debt limit package passes House, heads to Senate - Roll Call

The House passed a bill Wednesday night to suspend the debt limit past the 2024 elections, sending the measure to the Senate.

Roll Call

What GOP got for pushing US to the brink

Republicans didn’t get most of what they sought in a bill they passed in April – though they did get some of it

Salon

COVID-19 clawbacks, spending caps and a cut – what House Republicans got in return for pushing the US to the brink of default

House Republicans pushed the U.S. to the edge of a fiscal crisis because they wanted deep cuts in government spending.

The Conversation

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Biden, McCarthy will attempt to salvage debt limit deal

President Joe Biden and Speaker Kevin McCarthy plan to meet Monday afternoon to discuss how to raise the debt limit after a weekend of negotiations by proxies left each side accusing the other of throwing up new roadblocks to a deal.

Tribune News Service

Worried About the Debt Fight? Make the Hard Spending Decisions That Politicians Won't!

The debt ceiling isn’t the issue; excessive federal spending is the real problem.

Reason

Biden, McCarthy will attempt to salvage debt limit deal - Roll Call

President Joe Biden and Speaker Kevin McCarthy meet Monday to discuss how to raise the debt limit after a weekend of talks by proxies.

Roll Call

More red ink: Congressional budget agency projects bigger deficits as debt talks continue

The Congressional Budget Office says this year’s projected federal budget deficit has jumped by $130 billion

The Independent UK

CBO sees 'significant risk' of debt limit breach before June 15 - Roll Call

The Congressional Budget Office on Friday warned of a "significant risk" the U.S. will run out of cash and borrowing authority by June 15.

Roll Call

New debt limit forecast crashes into Capitol Hill - Roll Call

The federal government's debt managers warned Congress on Monday that lawmakers may have even less time to raise the borrowing limit.

Roll Call

Congress eyes work rules for millions covered by Medicaid

More than half a million of the poorest Americans would be left without health insurance under legislation passed by House Republicans that would require people to work in exchange for health care coverage through Medicaid

The Independent UK

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The Independent UK

Biden took jobless rate to 3.5%, but for how much longer?

President Joe Biden keeps seeing good economic news and bad public approval ratings

Tribune News Service

Chicken-or-egg game is on as Congress barrels toward debt limit

WASHINGTON — A House budget resolution will be delayed in part to allow for negotiations with President Joe Biden on a debt limit increase paired with some sort of concessions on spending and other policies acceptable to Republicans, according to House Budget Chairman Jodey C. Arrington.

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